Our panel of daily money managers provided 12 clues
-- six that may appear on bank statements and six on credit card
bills -- that reveal finances
might be slipping beyond a senior's control. If you detect fraud,
contact local law enforcement immediately.

Checking account flags:



Multiple
sequential checks for the same amount or to the same payee.
This could be a sign that a lawn service, handyman or
caregiver is taking advantage of a senior's short-term
memory loss to submit a few extra bills each month.



Sequence
of checks in the register without deposits. Some
seniors stop listing deposits in their check register
as a way to simplify their bookkeeping. As a result, such
monthly credits as Social Security, retirement and military
pensions can balloon zero-interest accounts to six or
seven figures. Excess money should be transferred to a
money market account or CD, where seniors could be earning
interest.



Lost
or missing checks. At best, lost or missing checks
may signal that a senior's bookkeeping is slipping; at
worst, they may be a flag that someone else is helping
themselves to a check or two.



Unusually
large check amount. If a senior, whose highest
monthly bill is $50, suddenly writes a whopper, it could
be a flag that they've been duped, hustled for the money,
or that a caregiver or service provider has tapped the
account.



Numerous
or monthly NSF or DDA fees. If a senior writes
a check in excess of his or her account balance, the bank
can slap a nonsufficient funds fee, or NSF, of $25 or
more per occurrence to the account, sometimes with a daily
maximum. If an account shows no activity for a specified
period, often one year, the bank may impose a demand deposit
account fee, or DDA, also known as a dormant account fee,
of $5 or more on a monthly basis. Alone or in combination,
these fees not only indicate that the account holder may
be losing financial control, they also can drain an account
over time if left unaddressed. The good news is many banks
will waive these fees if the cause is age- or health-related.



Bad
math. If you try to reconcile a senior's monthly
statement and it doesn't even come close, chances are
there are cognitive reasons. Some seniors in the early
stages of dementia even become confused over how to fill
out a check (where to put the amount, date, signature
and so forth).

Credit card flags:



Minimum
monthly payments. If a senior has been falling behind
by only paying the minimum on high-interest credit cards,
it could be a sign of impairment.



Multiple purchases for the same amount. Usually the culprits here are the home shopping networks and pay-per-view channels. Some seniors inadvertently trigger multiple pay-per-view event purchases with their TV's remote control without even knowing it.



Multiple purchases from the same source. If the same payee shows up numerous times in the same monthly statement, or once or twice each month, it could signal that a senior has unwittingly subscribed to a program or service without knowing it.



Unusual
monthly volume. A sudden spike in card usage can
be a sign that something fraudulent is afoot. If seniors
can't explain it, check to see if they have the cards
in their possession, and if not, find out who might have
borrowed them. Even if they do have the cards, they still
may have fallen victim to a skimming scam.



Unlikely
purchases. With rare exceptions, octogenarians
do not purchase sport utility vehicles, jet skis, XBoxes
or ski vacations. If something unlikely appears among
their credit card purchases, there's a good chance it
was either accidentally ordered or fraud is involved.



Unnecessary fees. With the barrage of promotional programs and opt-in, free-trial offers that flood our mailboxes these days, it's no wonder that many seniors inadvertently wind up paying for months or years of insurance and other card membership programs they really don't need. If you see any recurring credit card fee, question it.